Zacks: Brokerages Expect Barnes Group Inc. (B) Will Post Quarterly Sales of $381.76 Million

Wall Street analysts predict that Barnes Group Inc. (NYSE:B) will report sales of $381.76 million for the current quarter, according to Zacks. Four analysts have made estimates for Barnes Group’s earnings. The lowest sales estimate is $376.10 million and the highest is $386.70 million. Barnes Group reported sales of $373.05 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The firm is expected to report its next quarterly earnings results on Friday, February 15th.

According to Zacks, analysts expect that Barnes Group will report full-year sales of $1.49 billion for the current fiscal year, with estimates ranging from $1.49 billion to $1.50 billion. For the next year, analysts forecast that the firm will post sales of $1.54 billion, with estimates ranging from $1.53 billion to $1.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Barnes Group.

Barnes Group (NYSE:B) last posted its quarterly earnings data on Friday, October 26th. The industrial products company reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). Barnes Group had a net margin of 4.60% and a return on equity of 13.39%. The company had revenue of $369.80 million for the quarter, compared to the consensus estimate of $379.27 million. During the same quarter last year, the company earned $0.66 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year.

B has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Barnes Group from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Tuesday, July 31st. ValuEngine upgraded shares of Barnes Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. UBS Group initiated coverage on shares of Barnes Group in a research report on Wednesday, August 15th. They issued a “buy” rating and a $80.00 price objective on the stock. SunTrust Banks reiterated a “hold” rating and issued a $63.00 price objective on shares of Barnes Group in a research report on Friday, July 27th. Finally, DA Davidson set a $67.00 price objective on shares of Barnes Group and gave the company a “hold” rating in a research report on Tuesday, July 31st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $71.83.

Shares of Barnes Group stock traded down $1.13 during trading hours on Friday, reaching $59.18. The company’s stock had a trading volume of 11,705 shares, compared to its average volume of 268,668. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.50 and a current ratio of 2.27. Barnes Group has a one year low of $52.42 and a one year high of $72.70. The company has a market cap of $3.09 billion, a P/E ratio of 20.51, a PEG ratio of 2.67 and a beta of 1.52.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 27th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, November 26th. Barnes Group’s payout ratio is 22.22%.

Several institutional investors and hedge funds have recently made changes to their positions in B. Guggenheim Capital LLC boosted its holdings in shares of Barnes Group by 45.8% during the first quarter. Guggenheim Capital LLC now owns 24,835 shares of the industrial products company’s stock worth $1,488,000 after purchasing an additional 7,805 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Barnes Group by 1.6% during the first quarter. Principal Financial Group Inc. now owns 409,154 shares of the industrial products company’s stock worth $24,504,000 after purchasing an additional 6,585 shares during the period. Foundry Partners LLC boosted its holdings in shares of Barnes Group by 9.7% during the second quarter. Foundry Partners LLC now owns 192,068 shares of the industrial products company’s stock worth $11,313,000 after purchasing an additional 16,944 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Barnes Group during the second quarter worth approximately $226,000. Finally, Mondrian Investment Partners LTD boosted its holdings in shares of Barnes Group by 10.9% during the second quarter. Mondrian Investment Partners LTD now owns 66,753 shares of the industrial products company’s stock worth $3,932,000 after purchasing an additional 6,585 shares during the period. Institutional investors own 86.16% of the company’s stock.

About Barnes Group

Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy.

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